Manchester Capital Management LLC raised its holdings in American Electric Power Company Inc (NYSE:AEP) by 31.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,697 shares of the utilities provider’s stock after buying an additional 875 shares during the quarter. Manchester Capital Management LLC’s holdings in American Electric Power were worth $310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AEP. Vanguard Group Inc lifted its position in shares of American Electric Power by 1.6% in the third quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock valued at $2,662,148,000 after acquiring an additional 584,608 shares in the last quarter. BlackRock Inc. lifted its position in shares of American Electric Power by 3.9% in the fourth quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock valued at $2,741,691,000 after acquiring an additional 1,381,916 shares in the last quarter. Northern Trust Corp lifted its position in shares of American Electric Power by 4.2% in the fourth quarter. Northern Trust Corp now owns 5,951,102 shares of the utilities provider’s stock valued at $444,784,000 after acquiring an additional 241,872 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of American Electric Power by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after acquiring an additional 438,632 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of American Electric Power by 1.4% in the fourth quarter. Jennison Associates LLC now owns 4,597,759 shares of the utilities provider’s stock valued at $343,637,000 after acquiring an additional 63,019 shares in the last quarter. 73.99% of the stock is currently owned by institutional investors.

In other American Electric Power news, VP Brian X. Tierney sold 4,392 shares of American Electric Power stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $86.02, for a total value of $377,799.84. Following the sale, the vice president now owns 39,449 shares in the company, valued at $3,393,402.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 4,535 shares of American Electric Power stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total value of $388,740.20. Following the completion of the sale, the executive vice president now owns 9,674 shares in the company, valued at approximately $829,255.28. The disclosure for this sale can be found here. Insiders sold 21,582 shares of company stock worth $1,842,763 in the last 90 days. Company insiders own 0.16% of the company’s stock.

American Electric Power stock traded up $0.16 during trading on Wednesday, reaching $86.77. 261,287 shares of the company were exchanged, compared to its average volume of 2,650,650. American Electric Power Company Inc has a 52-week low of $62.71 and a 52-week high of $87.14. The company has a market cap of $42.72 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.68 and a beta of 0.17. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the business posted $0.96 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that American Electric Power Company Inc will post 4.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.09%. American Electric Power’s dividend payout ratio is currently 67.85%.

A number of brokerages recently commented on AEP. JPMorgan Chase & Co. set a $78.00 price objective on American Electric Power and gave the stock a “hold” rating in a research report on Friday, January 25th. Morgan Stanley lifted their price objective on American Electric Power from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Wolfe Research set a $89.00 price objective on American Electric Power and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Co lifted their price objective on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Goldman Sachs Group downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. American Electric Power presently has a consensus rating of “Buy” and a consensus price target of $81.63.

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American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

See Also: Green Investing

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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